Currency pair USD/CHF US Dollar to Swiss Franc is trading at 0.8765 and continues to move within the fall and bearish channel. The pair is trading below the lower boundary of the Cloud of the Ichimoku Kinko Hyo indicator. This indicates a bearish trend for the Dollar Franc pair. As part of the forecast for the US Dollar to Swiss Franc exchange rate for today, March 13, 2024. A correction is expected to develop and a test of the signal line area of the Ichimoku Kinko Hyo indicator is expected near the level of 0.8775. Where can we expect an attempt to rebound downwards and a continuation of the pair’s fall with a potential target near the level of 0.8665.
Dollar Franc Forecast USD/CHF for March 13, 2024
An additional signal in favor of a decline in the USD/CHF currency pair on Forex will be a rebound from the resistance area on the price chart. The second signal will be a rebound from the upper border of the bearish channel. Previously, a weak signal was received to sell the Dollar Franc pair. The signal was formed due to the intersection of signal lines at the level of 0.8835. The nearest resistance area for the Dollar Franc pair is located at 0.8795. The nearest support area for the USD/CHF pair is located near the 0.8735 area.
Cancellation of the option to reduce quotes for the USD/CHF pair will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with quotes closing above the 0.8865 area. This option will indicate a change in the bearish trend in favor of a bullish trend and continued growth of the asset in the Forex market. Expect an acceleration in the fall of USD/CHF quotes with a breakdown of the support level and closing below the level of 0.8715.
Dollar Franc Forecast USD/CHF for March 13, 2024 suggests an attempt to test the resistance level near the 0.8775 area. Where can we expect the currency pair to continue to fall on Forex with a potential target near the level of 0.8665. Cancellation of the option to reduce the pair will be a breakdown of the area 0.8865. This will indicate continued growth of the US Dollar against the Swiss Franc with a target above the level of 0.9065.
